CHICAGO and LONDON, Sept. 23,
2020 /PRNewswire/ -- CME Group, the world's leading and most
diverse derivatives marketplace, today announced the first trade of
the Used Cooking Oil Methyl Ester (UCOME) futures contracts. Ten
contracts were traded on September 16,
2020. Open interest is at 65 contracts as of September 22, 2020.
"As waste-based products are increasingly in demand as a source
of clean energy, our new used cooking oil contracts help clients
manage the price risks associated with this emerging market," said
Peter Keavey, Global Head of Energy
at CME Group. "This new product is another example of CME Group's
commitment to developing markets that reflect the evolving energy
market and can help meet changing customer preferences."
Tullett Prebon Energy & Commodities, part of TP ICAP, a
leading provider of market infrastructure, became the first broker
to transact Europe's first UCOME
derivatives contracts between two counterparties.
CME Group launched four Renewable Fuel Futures contracts on
August 17, 2020, based on demand from
customers for new tools to help manage exposure to the growing
waste oils sector. The UCOME contracts are financially settled to
the Argus Media UCOME FOB ARA assessment.
Adrian Binks, Chairman and Chief
Executive of Argus Media added, "We are delighted that the first
UCOME versus gasoil spread trade has been completed today. These
hedging tools will help companies manage risk in this increasingly
important and rapidly expanding market."
The new Used Cooking Oil (UCO) and Used Cooking Oil Methyl Ester
(UCOME) futures contracts expand CME Group's already robust suite
of energy futures and options. UCO and UCOME are listed with and
subject to the rules of NYMEX. For more information, please visit
here.
About CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) enables clients to trade futures,
options, cash and OTC markets, optimize portfolios, and analyze
data – empowering market participants worldwide to efficiently
manage risk and capture opportunities. CME Group exchanges offer
the widest range of global benchmark products across all major
asset classes based on interest rates, equity
indexes, foreign exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing. With a range of pre- and post-trade products and
services underpinning the entire lifecycle of a trade, CME Group
also offers optimization and reconciliation services through
TriOptima, and trade processing services through Traiana.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are
trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB,
and Traiana, Inc., respectively. Dow Jones, Dow Jones
Industrial Average, S&P 500 and S&P are service and/or
trademarks of Dow Jones Trademark Holdings LLC, Standard &
Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as
the case may be, and have been licensed for use by Chicago
Mercantile Exchange Inc. All other trademarks are the
property of their respective owners.
CME-G
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SOURCE CME Group